Magnetar Financial LLC Acquires Shares of 54,535 Vertiv Holdings Co (NYSE:VRT)

Magnetar Financial LLC bought a new position in Vertiv Holdings Co (NYSE:VRT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 54,535 shares of the company’s stock, valued at approximately $4,721,000.

A number of other institutional investors have also made changes to their positions in the company. Bogart Wealth LLC bought a new stake in Vertiv during the first quarter valued at $25,000. Raleigh Capital Management Inc. grew its holdings in shares of Vertiv by 79.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 571 shares of the company’s stock valued at $27,000 after purchasing an additional 252 shares during the last quarter. Atticus Wealth Management LLC acquired a new stake in shares of Vertiv during the 1st quarter worth approximately $27,000. Mather Group LLC. lifted its holdings in shares of Vertiv by 132.5% in the 2nd quarter. Mather Group LLC. now owns 351 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. bought a new position in Vertiv during the 1st quarter worth $34,000. 89.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Evercore ISI reissued an “outperform” rating and set a $105.00 price target on shares of Vertiv in a report on Thursday, August 15th. The Goldman Sachs Group lowered their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and reduced their price target for the stock from $95.00 to $92.00 in a research note on Wednesday, August 7th. Finally, TD Cowen upped their target price on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vertiv has an average rating of “Buy” and a consensus target price of $102.13.

Insider Activity

In related news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.01% of the stock is owned by corporate insiders.

Vertiv Stock Up 2.7 %

VRT stock opened at $94.54 on Monday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The firm has a market capitalization of $35.39 billion, a P/E ratio of 90.90, a P/E/G ratio of 1.08 and a beta of 1.58. Vertiv Holdings Co has a 52-week low of $34.60 and a 52-week high of $109.27. The company’s 50 day simple moving average is $79.49 and its 200-day simple moving average is $85.45.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts anticipate that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.11%. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Vertiv Company Profile

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.